Explain the 1998 Alternative Dispute Resolution Act and Its Requirements

question 84

Essay

Explain the 1998 Alternative Dispute Resolution Act and its requirements on litigants in the federal district courts.

---

Definitions:

Carryback Provision

A tax provision allowing companies to apply a current year's net operating losses to past years' profits for potential tax refunds, offsetting taxable income in profitable years.

Operating Losses

Losses that occur when a company's operating expenses exceed its revenues over a specific period, indicating that the core business activities are not generating sufficient income.

Income Tax Rate

The proportion of income that is taken as tax from a person or company.